Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) have fallen between 15% and 20% over the past week, pushing sentiment deeper into fear territory.
Bitcoin Flashes Rare Oversold Signal Crypto analyst Lark Davis noted on June 4 that Bitcoin's daily RSI dropped to 17, one of the most oversold readings in the past decade and a level previously seen during the March 2020 COVID crash and February 2026 selloff.
On-chain data also shows Bitcoin trading at one of its largest historical discounts relative to gold.
Analysts are closely watching key support levels near $62,000 and $58,600, the Bitcoin Power Law support level.
Ethereum Remains Under Pressure Ethereum also reached one of its most oversold levels in years, with its daily RSI falling to 17 after breaking below its February crash low.
